MKT500 Assignment 4 Requirements. Please design and create a PowerPoint Presentation that meets the criteria stated in the attachment. The slides should have bullet points and the notes or talking points should clearly explain the bullet point substance. This should be a fun presentation that will WOW!! the imaginary SharkTank judges but more specifically my instructor. Feel free to ask me any questions or for input. I don't think it should be over 20 slides max. Hopefully less to get to 5 minuted or so. Thank You

MKT500 Assignment 4 Imagine that you are pitching your hypothetical servicebased company's marketing plan to the Shark Tank Team for possible investment. Create a PowerPoint Presentation that will be five to seven (57) minutes in length in which you present your full marketing plan from Assignments 1, 2, and 3. 1) Present the major points of your marketing plan. The specific course learning outcomes associated with this assignment are: Create an effective marketing plan. Analyze the marketing framework including the concepts of the 5Cs, STP, and 4Ps.Develop strategies to assess performance and achieve marketing goals. Examine the marketing science of customer behavior and products in the marketing exchange process and create dynamic strategies for competing. Evaluate the basis for market segmentation and approaches to segmentation.Evaluate target customer segments and positioning products within these segments. Develop branding strategies for existing and new products. Develop pricing strategies and distribution channels for products. Analyze integrated marketing communications and its relationship to advertising strategy. Evaluate marketing research tools involved in the marketing process. Use technology and information resources to research issues in marketing management. APA Guidelines: A brief overview 6th Edition Why learn APA manuscript formatting guidelines? It's a Strayer University standard It's a professional standard You need to know it when you publish You need it for continued graduate work APA publication guideline history started in 1928 anthropological and psychological journal editors met purpose: to standardize publication formats first guidelines 7 pages long latest 6th edition printed 2009 summer General formatting guidelines Margins: 1 inch around Font: Times New Roman - 12 pt. Line spacing: double spaced throughout Word spacing: 1 space after commas, colons, and semi-colons 1 space after period in name (A. B. Smith) 1 space after period separating parts of reference citation 1 or 2 spaces after periods in sentences in text Citing within text Paraphrasing within text: In a 1989 article, Gould explores some of Darwin's most effective metaphors. Author cited in text: Gould (1989) attributed Darwin's success to his gift for making the appropriate metaphor. Author not cited in text: As metaphors for the workings of nature, Darwin used the tangled bank, the tree of life, and the face of nature (Gould, 1989). Quotes within text Direct quote from author: Gould (1989) explains that Darwin used the metaphor of the tree of life \"to express the other form of interconnectedness-genealogical rather than ecological-and to illustrate both success and failure in the history of life\" (p.14). Direct quote without name of author: Darwin used the metaphor of the tree of life \"to express the other form of interconnectedness-genealogical rather than ecological\" (Gould, 1989, p.14). Long Quotes (40 words or more) General format for long quotes: indented 5 spaces do not use quotation marks citation appears one space after last punctuation of quote Friedman (2006) draws connections between two seemingly disparate events: November 9 (dismantling of the Berlin Wall) and September 11 (attack on the World Trade Center). He believes these two dates represent the two competing forms of imagination at work in the world today: the creative imagination of 11/9 and the destructive imagination of 9/11. One brought down a wall and opened the windows of the world. . . [the other] putting up new invisible and concrete walls among people. (p. 543). (p. 543) (p. 543) (p. 543) Multiple works within same parenthesis Example: Several studies (Balda, 1980; Kammil, 1988; Pepperberg & Funk, 1990) confirm the use of metaphors increases learning. One work with multiple authors First citation in text: - Wasserstein, Zappula, Rosen, German, and Rock (1994) found. . . - The use of metaphors was found to be helpful (Wasserstein, Zappula, Rosen, German, & Rock, 1994) Subsequent citations (3 or more authors): - Wasserstein and colleagues (1994) found - Wasserstein et al. (1994) found - The use of metaphors was found to be helpful (Wasserstein et al., 1994) Citation from secondary source Text: Seidenberg and McCelland's study (as cited in Coltheart, Curtis, Atkins, & Haller, 1993). Reference page: Coltheart, M., Curtis, B., Atkins, P., & Haller, M. (1993). Models of reading aloud: Dual-route and parallel-distributedprocessing approaches. Psychological Review, 100, 589-608. Use sparingly! References References are listed on separate page Only citations that appear in the text should appear on the reference page Everything cited in the text should appear on the reference page. References are double-spaced, flush left with subsequent lines indented 5 spaces Periodicals General format: Author, A. A (year, add month and date of publication for daily or weekly publications). Title of article. Title of Periodical, volume number (issue), pages. Example: Little, D. W. (200l). Leading change: Creating the future for education technology. Syllabus International, 15(5), 2224. Book, edition, multiple authors General format: Author, A. A., Author, B. B., & Author, C. C. (year of publication). Title of work: Capital letter also for subtitle (number ed.). Location City, State Abbreviation: Publisher. Example: Anderson, A. B., Smith, S. D., & Jones, J. C. (1978). A distant mirror: The calamitous fourteenth century (3rd ed.). New York, NY: Knopf. Chapter in book General format: Author, A. A. (date of publication). Title of chapter. In A. Editor (Ed.), Title of book (pages of chapter). Location: Publisher. Example: James, J. E. (1988). Two sides of paradise: The Eden myth according to Kirk and Spock. In D. Palumbo (Ed.), Spectrum of the fantastic (pp. 219-223). Westport, CT: Greenwood. Digital Object Identifiers (DOI) DOIs are unique strings of numbers used to identify online articles' content and provide a persistent link to their location on the Internet. 1.When DOIs are present, no longer have to include URL. 2.When DOIs are not present, include URL Online periodical when DOI is present General format: Author, A. A. (date). Title of article. Title of Journal, volume(number), page numbers. doi: xx.xxxxxxx Example: Herbst-Damm, K. L., & Kulik, J. A. (2005). Volunteer support, marital status, and the survival times of terminally ill patients. Health Psychology, 24, 225-229. doi: 10.1037/02786133.24.2.225 Online article when DOI is not present General format: Author, A. A. (date of publication). Title of article Title of Journal, volume(number), page numbers. Retrieved from URL Example: Sillick, T. J., & Schutte, N. S. (2006). Emotional intelligence and self-esteem mediate between perceived early parental love and adult happiness. Applied Psychology, 2(2), 38-48. Retrieved from http://ojs.lib.swin.edu.au/index.php/ejap Citing others' work A citation is giving credit whenever you use someone's ideas, figures, unique approach, or specific reasoning. This is done whether you paraphrase another's ideas or use direct quotes. The purpose of using citations is twofold: 1.to give credit for the person whose material you are using and 2.to offer a way for readers of your work to find out more information about that source. Plagiarism Plagiarism: act of using someone else's ideas, words, figures, unique approach, or specific reasoning without giving appropriate credit. It's a bad thing! Resources American Psychological Association (2010). Publication manual of the American Psychological Association (6th ed.). Washington, DC: Author. APA Website: www.apastyle.org Updated APA guideline notes on ELCSE website under Student Resources (http://www.aug.edu/elcse/ELCS E_APA_Guidelines.pdf) Layout for PowerPoint Presentation Cover Page Executive Summary Assignment Part A page 2 Introduction of company Assignment Part A pages 23 Market Analysis Summary Assignment Part A page 3 5Cs page Assignment A page 7 STP page Assignment A page 7 (graded as incomplete, needs work) 4Ps page Assignment A page 6 SWOT Analysis Assignment A page 10 (professor would like to see a SWOT table included) Marketing Strategy: Strategies to assess performance and achieve marketing goals. Assignment Part B page 5 Marketing science of customer behavior Assignment Part B page 8 Products in the marketing exchange process and create dynamic strategies for competing. Market segmentation and approaches to segmentation Evaluate target customer segments and positioning products within these segments. Assignment Part B pages 67 (Graded very poorly by professor, see remarks below) Partially prepared a positioning statement. Partially included a perceptual map that shows your company's position against its competitors. From this map, partially created a statement that depicts your position. Feedback: Where is your positioning statement? From Week 3 discussion need the fill in the blank positioning statement. From this map, did not submit or incompletely created a statement that depicts your position. Branding Strategies for existing and new products Assignment Part B pages 35 Assignment Part C pages 24 pricing strategies Assignment Part C pages 5 Distribution Strategy: channels for products Assignment Part C pages 5 Analyze integrated marketing communications and its relationship to advertising strategy. Assignment Part C pages 8 Marketing research tools involved in the marketing process. Technology and information resources to research issues in marketing management. Conclusion References Marketing Plan XyloSe Smartwatch Executive Summary Name of Company : Sylex, Inc. Brand name : 'Xylose'. Unique Features : Innovative Design, Gold plated casing, Customization as per customer needs, etc. Company's Target : To capture 7% market share in United States. Key Focus : Target Market, Customer Segment, 4 Ps & 5 Cs of marketing, SWOT Analysis Introduction to Sylex, Inc. Founded in : 1996 Founded by : Peter Martin. Headquarters : Cupertino, California, U S Chief Executive Officer : Peter Martin Chairman : Roger Martin. Manufacturing Facilities : San Diego No. of Employees : 3,600 Company Outlets : 48 Stock listed on : New York Stock Exchange. Market Analysis Fast Growth of smartwatch market. Emerging economies are big opportunity. Present players paying less focus on emerging economies. Beaver, L. (2016) suggested that it is expected that in next few years the smartwatch market will see an increase in functionality and capabilities and it is expected that the sale of smartwatches will grow 18% annually and is expected to reach 70 million by the year 2021. 5 Cs of Marketing Customer Company Competition Collaborators Context STP System STP System Cont... Segmentation Process of fragmenting the market into small group. Selecting appropriate target market. Targeting Selecting the suitable market segment. Focusing on marketing offers of the firm. Focusing on related consumers. Positioning Making the consumers about the benefits and features. Comparing the product in relation to product of competitors. 4 Ps of Marketing Product Price Place Promotion SWOT Analysis Marketing Strategy Pre-Launch Activities Launching the Product Positioning Statement Marketing Science of Consumer Behavior Choosy Customers. High quality product at lower price will their purchasing habits. Durability, packaging, price and design of band are important attributes. Iacobucci, D. (2014) was of the view that a customer classification can be done in accordance to the care the customers give to their purchases Market Segmentation Attributes of : Age, group income, Segmentation occupation, marital status. Smartwatch for both male and female Target age group : 14 - 45 Years Groups of customers on: High group and middle the basis of Income income group. Branding Strategy Popularize by using : Internet, commercials, social networking websites, advertisement in newspapers, displays, decoration material, flyers, catalogs, trade show booths, trade promotions, etc. Brand Name : Simple and Easy to pronounce and remember. Use only logo in advertising so that people can recall name by seeing logo. Branding Strategy Cont... Branding Strategy Cont... Slogan \"Xylose: The essence of your lifestyle\" The slogan focuses that wearing XyloSe watch is an essential part of lifestyle. Brand Extension Range of glares. For both male and female. This product is also associated with lifestyle and ego needs Pricing Strategies Initially Penetration-pricing strategy Helpful in increasing customer base To introduce product at attractive price. Helpful in increasing market share. Premium Pricing The price will be higher than competitors. To sell new products at higher profit margin. To earn high margin. Distribution Strategy Indirect distribution strategy. Network of distributors and retailers. No direct selling other than its own outlets. Dispatch of watches 10 days before launch. Integrated Marketing Communication Integration of all the tools. Message on all channels of communication. Use of vertical integration of marketing efforts. 70% of advertising on TV and newspaper. 30% will be through online ads and online mails. Word of Mouth (WOM) to attract customers. Marketing Research Tools Surveys One-on-one Interviews Focus Groups Blogs and Social Networks References Beaver, L. (2016). THE SMARTWATCH REPORT: Forecasts, Adoption Trends, And Why The Market Isn't Living Up To The Hype. Retrieved from: http://www.businessinsider.com/smartwatchand-wearables-research-forecasts-trendsmarket-use-cases-2016-9?IR=T Iacobucci, D. (2014). MM4, 4th Edition. [Strayer University Bookshelf]. Retrieved from https://strayer.vitalsource.com/#/books/97813 05561946/ Thanks for your time... Hello, I am Peter Martin, the Chief Executive Officer of Sylex, Inc. Today I will be discussing the market plan for our much awaited smartwatch 'XyloSe'. Headquartered at Cupertino, California, United States, Sylex, Inc., is a producer of consumer items that include watches, smartphones, digital electronics, gadgets, etc. The company has a proven track record since its inception in 1996 and its products are diverse than the other producers of the industry. The company is much known for its highly satisfied customers due to its high quality products as well as quick after sale services. The XyloSe smartwatch is going to be a matchless product of the company with unique, innovative and distinct features. The smartwatch will be featured for upscale niche market. The company aims at capturing 7% of the total smartwatch market of high-end smartwatches within four years. The smartwatch will be introduced in the market with a low price tag in comparison to the competitors. The features that will make the smartwatch distinct from its competitors will be that the watch can be customized as per the requirements of the customers. The customization of the watch includes shape, size, apps, connectivity, display, dial, etc. according to the choice of the customers. It also includes the compatibility of smartwatch with other devices such as cell phones, laptops, etc. Customization also includes the features and specifications that the customers want to be in the smartwatch. The other unique feature of the smartwatch is that it can be connected to satellite to receive or send important data. The other unique feature that will make the watch look different from the product of other competitors will be gold plated casing. It will be sold at all the major malls and markets of United States as well as at the 48 stores of the company. The smartwatch will also make its entry into the emerging economies that are relatively untapped by other major manufacturers. Emerging economies are also the developing markets and the have scope for expensive goods. Sylex, Inc. will focus on emerging economies and will conduct research about the expected demand and willingness of the customers to purchase high-end smartwatch. The 4 Ps of marketing include product, price, place and promotion. The product, i.e., smartwatch, will be introduced in six models to cater the needs and requirements of different segment of customers. The price of the smartwatch will kept competitive and will be lower in comparison to the price of the competitors as the company initially wants to increase its market share. The place where the product will initially be sold are United States and Canada with a prime focus of North America. Promotion of the smartwatch will on be all the major TV channels of the country one month before its launch. The sales team of experienced personnel will be hired that work on the promotion of the smartwatch on websites, portals, and social networking websites. The 5 Cs of marketing include Customer, Company, Competition, collaborators and context. The customer of smartwatch is spontaneous and choosy and prefers to change the brand smartwatch. The most important attributes that are considered by the customers are design, durability, and price. All these attributes are wisely fulfilled by the Xylose smartwatch. Our Company is committed to provide better product at competitive price with prime objective of gaining higher market share. The competition in the smartwatch marketplace is intense with Apple and Swatch being the major players. To penetrate the product in such competitive scenario the company will focus on and highlight the distinct features that its smartwatch carries. The high-end models of the smartwatch can be collaborated with jewelry and could also be positioned to be sold at big jewelry stores. The Xylose smartwatch will also be sold at jewelry stores having good reputation. In relation to context then Smartwatch does not attract any legal barrier, and there are no restrictions on producing and marketing them. The government promotes the watch industry. STP system is comprised of segmentation, targeting and positioning. The Sylex, Inc. will fragment the market into small groups to find out the target customer and market. The targeting will include the selection of the suitable market segment and the relate customers that the company thinks is best for its products. To position the smartwatch the company will make the customers literate and aware about the availability as well as the benefits and features of the smartwatch. A comparison of smartwatch with that of competitors will also be a part of positioning. Hello, I am Peter Martin, the Chief Executive Officer of Sylex, Inc. Today I will be discussing the market plan for our much awaited smartwatch 'XyloSe'. Headquartered at Cupertino, California, United States, Sylex, Inc., is a producer of consumer items that include watches, smartphones, digital electronics, gadgets, etc. The company has a proven track record since its inception in 1996 and its products are diverse than the other producers of the industry. The company is much known for its highly satisfied customers due to its high quality products as well as quick after sale services. The XyloSe smartwatch is going to be a matchless product of the company with unique, innovative and distinct features. The smartwatch will be featured for upscale niche market. The company aims at capturing 7% of the total smartwatch market of high-end smartwatches within four years. The smartwatch will be introduced in the market with a low price tag in comparison to the competitors. The features that will make the smartwatch distinct from its competitors will be that the watch can be customized as per the requirements of the customers. The customization of the watch includes shape, size, apps, connectivity, display, dial, etc. according to the choice of the customers. It also includes the compatibility of smartwatch with other devices such as cell phones, laptops, etc. Customization also includes the features and specifications that the customers want to be in the smartwatch. The other unique feature of the smartwatch is that it can be connected to satellite to receive or send important data. The other unique feature that will make the watch look different from the product of other competitors will be gold plated casing. It will be sold at all the major malls and markets of United States as well as at the 48 stores of the company. The smartwatch will also make its entry into the emerging economies that are relatively untapped by other major manufacturers. Emerging economies are also the developing markets and the have scope for expensive goods. Sylex, Inc. will focus on emerging economies and will conduct research about the expected demand and willingness of the customers to purchase high-end smartwatch. The 5 Cs of marketing include Customer, Company, Competition, collaborators and context. The customer of smartwatch is spontaneous and choosy and prefers to change the brand smartwatch. The most important attributes that are considered by the customers are design, durability, and price. All these attributes are wisely fulfilled by the Xylose smartwatch. Our Company is committed to provide better product at competitive price with prime objective of gaining higher market share. The competition in the smartwatch marketplace is intense with Apple and Swatch being the major players. To penetrate the product in such competitive scenario the company will focus on and highlight the distinct features that its smartwatch carries. The high-end models of the smartwatch can be collaborated with jewelry and could also be positioned to be sold at big jewelry stores. The Xylose smartwatch will also be sold at jewelry stores having good reputation. In relation to context then Smartwatch does not attract any legal barrier, and there are no restrictions on producing and marketing them. The government promotes the watch industry. STP system is comprised of segmentation, targeting and positioning. The Sylex, Inc. will fragment the market into small groups to find out the target customer and market. The targeting will include the selection of the suitable market segment and the relate customers that the company thinks is best for its products. To position the smartwatch the company will make the customers literate and aware about the availability as well as the benefits and features of the smartwatch. A comparison of smartwatch with that of competitors will also be a part of positioning. The 4 Ps of marketing include product, price, place and promotion. The product, i.e., smartwatch, will be introduced in six models to cater the needs and requirements of different segment of customers. The price of the smartwatch will kept competitive and will be lower in comparison to the price of the competitors as the company initially wants to increase its market share. Specifically the place where the smartwatch will be sold will be the major malls including Wal-Mart, Sears, Target and J C Penny. The place also includes where the product will initially be sold are United States and Canada with a prime focus of North America. Promotion of the smartwatch will on be all the major TV channels of the country one month before its launch. The sales team of experienced personnel will be hired that work on the promotion of the smartwatch on websites, portals, and social networking websites. The slogan of the smartwatch will be 'XyloSe: The essence of your life'. The slogan connects and emphasizes the importance of its watch with the lifestyle of the customers. It will be displayed with the advertisement in print media and will be spoken out with the commercials that will be flashed on the television, websites and social networking portals. The company will also introduce a wide range of glares for both men and women as brand extension to smartwatch. The glares will be sold as a different product and will also be attached to the smartwatch as gift with high priced models of smartwatch. The SWOT analysis is a review of strengths, weaknesses, opportunities and threats that a company undergoes. The strengths that the Sylex, Inc. has include a high quality experienced distribution channel with a superior quality of the goods. The Sylex, Inc. has a loyal customer base of its other products which are sold in the market like hot cakes. These loyal customers will purchase the smartwatch looking into the past performance of the company. The weakness that the company faces is that it does not have any experience in selling smartwatch and it is a new product. There are fewer numbers of players in smartwatch section. The emerging markets such as Asian countries and few of African countries are potential markets for the company. The major threat that is associated with the launch of the smartwatch is intense competition, and a few manufacturers have higher market share. The pricing strategy of the company will be different at the time of launch and after successful launch. Initially, at the time of launch, the company will keep a low price than competitors and will adopt penetration-pricing strategy. It will be helpful in increasing market share and customer base of the company. Thereafter, the pricing strategy will change to premium pricing which calls for a price that is higher than competitors and to sell the products at higher profit at a higher margin. Sylex, Inc. chooses to use indirect direct distribution strategy. The XyloSe smartwatch will not be sold directly to the customers by Sylex, Inc. For distributing its products, Sylex, Inc. has appointed distributors and retailers in all the major cities of United States. The company plans to dispatch the smartwatch to all of its distributors ten days before its introduction to market so that it could reach retailers in time and the customers can buy it in a hassle free manner on the day of its launch. Thus, primarily the distribution strategy is to sell the smartwatch indirectly as well as directly through the company-owned retail outlets. Sylex, Inc. will integrate all its marketing tools in a synchronized manner to have an effective integrated marketing communication in publicity of the XyloSe smartwatch. The marketing communication of XyloSe smartwatch will ensure that the message displays consistently across all the platforms of advertising. The vertical integration of marketing efforts will effectively help the company to maintain corporate policy and will align its products with the mission of the company. Luxton, S. et, al. (2015) suggested \"There are several benefits associated with developing an IMC capability. It helps firms focus their resources (time, effort, and financial) against \"best\" customers and prospects via \"outside-in\" thinking, which starts with the customer rather than determining what is to be said and then looking for prospects to whom to say it.\" IMC will make integration between advertising, promotion, marketing and communication and facilitates with a roadmap to have an interaction with public and target market (imcatconestoga.wordpress.com). The IMC for XyloSe will have a high focus on TV ads and newspaper because this means of communication affects a major section of target market. 70% of the advertising of Sylex, Inc. will on TV ads and newspaper. The company will use TV commercials in form of video demonstrating the features and specifications of the smartwatch. 30% of the integrated marketing plan will be through online ads and ads through mail. Word of mouth (WOM) will be the most effective tool to attract more customers to make purchases. Owing to high quality the reviews of users about the smartwatch and the reviews of existing customers of other model of watch will lead to a positive WOM. To increase positive WOM the Sylex, Inc. will use social networking portals, such as Facebook, Twitter, etc. So to explore more about the smartwatch, it features, availability and specifications please visit our website at www.sylex.com. The watch could also be accessed and at facebook, twitter, instagram and linkedin. Thanks once again and always chose Xylose smartwatch as your new companion. XyloSe Smartwatch Unique Features : Innovative Design, Gold plated casing, Customization as per customer needs, etc. Company's Target : To capture 7% market share in United States. Key Focus : Target Market, Customer Segment, 4 Ps & 5 Cs of marketing, SWOT Analysis Sylex, Inc. Founded by Peter and Roger Martin in 1996 Headqueartered in Cupertino, California Manufacturing Facilities : San Diego No. of Employees: 3,600 Company Owned Retail Outlets: 48 Listed on NYSE as SYL Market Analysis Fast Growth of smartwatch market. Emerging economies are big opportunity. Present players paying less focus on emerging economies. Beaver, L. (2016) suggested that it is expected that in next few years the smartwatch market will see an increase in functionality and capabilities and it is expected that the sale of smartwatches will grow 18% annually and is expected to reach 70 million by the year 2021. 5 Cs of Marketing Customer Company Competition Collaborators Context STP System STP System Cont... Segmentation Process of fragmenting the market into small group. Selecting appropriate target market. Targeting Selecting the suitable market segment. Focusing on marketing offers of the firm. Focusing on related consumers. Positioning Making the consumers about the benefits and features. Comparing the product in relation to product of competitors. 4 Ps of Marketing Product Price Place Promotion SWOT Analysis Marketing Strategy Pre-Launch Activities Launching the Product Positioning Statement Marketing Science of Consumer Behavior Choosy Customers. High quality product at lower price will their purchasing habits. Durability, packaging, price and design of band are important attributes. Iacobucci, D. (2014) was of the view that a customer classification can be done in accordance to the care the customers give to their purchases Market Segmentation Attributes of : Age, group income, Segmentation occupation, marital status. Smartwatch for both male and female Target age group : 14 - 45 Years Groups of customers on: High group and middle the basis of Income income group. Branding Strategy Popularize by using : Internet, commercials, social networking websites, advertisement in newspapers, displays, decoration material, flyers, catalogs, trade show booths, trade promotions, etc. Brand Name : Simple and Easy to pronounce and remember. Use only logo in advertising so that people can recall name by seeing logo. Branding Strategy Cont... Branding Strategy Cont... Slogan \"Xylose: The essence of your lifestyle\" The slogan focuses that wearing XyloSe watch is an essential part of lifestyle. Brand Extension Range of glares. For both male and female. This product is also associated with lifestyle and ego needs Pricing Strategies Initially Penetration-pricing strategy Helpful in increasing customer base To introduce product at attractive price. Helpful in increasing market share. Premium Pricing The price will be higher than competitors. To sell new products at higher profit margin. To earn high margin. Distribution Strategy Indirect distribution strategy. Network of distributors and retailers. No direct selling other than its own outlets. Dispatch of watches 10 days before launch. Integrated Marketing Communication Integration of all the tools. Message on all channels of communication. Use of vertical integration of marketing efforts. 70% of advertising on TV and newspaper. 30% will be through online ads and online mails. Word of Mouth (WOM) to attract customers. Marketing Research Tools Surveys One-on-one Interviews Focus Groups Blogs and Social Networks References Beaver, L. (2016). THE SMARTWATCH REPORT: Forecasts, Adoption Trends, And Why The Market Isn't Living Up To The Hype. Retrieved from: http://www.businessinsider.com/smartwatchand-wearables-research-forecasts-trendsmarket-use-cases-2016-9?IR=T Iacobucci, D. (2014). MM4, 4th Edition. [Strayer University Bookshelf]. Retrieved from https://strayer.vitalsource.com/#/books/97813 05561946/ Thanks for your time... XyloSe Smartwatch Unique Features : Innovative Design, Software Customization, apps and features as per requirements of the customers. Company's Target : To capture 7% market share in United States. Key Focus : Target Market, Customer Segment, 4 Ps & 5 Cs of marketing, SWOT Analysis Sylex, Inc. Founded by Peter and Roger Martin in 1996 Headquartered in Cupertino, California Manufacturing Facilities : San Diego No. of Employees: 3,600 Company Owned Retail Outlets: 48 Listed on NYSE as SYL Market Analysis Fast Growth of smartwatch market. Growth expected at 34.10% by year 2020. Less focus of manufacturers on emerging economies. High R&D on functionality and capability Beaver, L. (2016) suggested that it is expected that in next few years the smartwatch market will see an increase in functionality and capabilities and it is expected that the sale of smartwatches will grow 18% annually and is expected to reach 70 million by the year 2021. 5 Cs of Marketing Customer Company Competition Collaborators Context STP System STP System Cont... Segmentation Process of fragmenting the market into small group. Selecting appropriate target market. Targeting Selecting the suitable market segment. Focusing on marketing offers of the firm. Focusing on related consumers. Positioning Making the consumers about the benefits and features. Comparing the product in relation to product of competitors. 4 Ps of Marketing Product Price Place Promotion SWOT Analysis Marketing Strategy Pre-Launch Activities Launching the Product Positioning Statement Marketing Science of Consumer Behavior Choosy Customers. High quality product at lower price will their purchasing habits. Durability, packaging, price and design of band are important attributes. Iacobucci, D. (2014) was of the view that a customer classification can be done in accordance to the care the customers give to their purchases Market Segmentation Attributes of : Age, group income, Segmentation occupation, marital status. Smartwatch for both male and female Target age group : 14 - 45 Years Groups of customers on: High group and middle the basis of Income income group. Branding Strategy Popularize by using : Internet, commercials, social networking websites, advertisement in newspapers, displays, decoration material, flyers, catalogs, trade show booths, trade promotions, etc. Brand Name : Simple and Easy to pronounce and remember. Use only logo in advertising so that people can recall name by seeing logo. Branding Strategy Cont... Branding Strategy Cont... Slogan \"Xylose: The essence of your lifestyle\" The slogan focuses that wearing XyloSe watch is an essential part of lifestyle. Brand Extension Range of glares. For both male and female. This product is also associated with lifestyle and ego needs Pricing Strategies Initially Penetration-pricing strategy Helpful in increasing customer base To introduce product at attractive price. Helpful in increasing market share. Premium Pricing The price will be higher than competitors. To sell new products at higher profit margin. To earn high margin. Distribution Strategy Indirect distribution strategy. Network of distributors and retailers. No direct selling other than its own outlets. Dispatch of watches 10 days before launch. Integrated Marketing Communication Integration of all the tools. Message on all channels of communication. Use of vertical integration of marketing efforts. 70% of advertising on TV and newspaper. 30% will be through online ads and online mails. Word of Mouth (WOM) to attract customers. Marketing Research Tools Surveys One-on-one Interviews Focus Groups Blogs and Social Networks References Beaver, L. (2016). THE SMARTWATCH REPORT: Forecasts, Adoption Trends, And Why The Market Isn't Living Up To The Hype. Retrieved from: http://www.businessinsider.com/smartwatchand-wearables-research-forecasts-trendsmarket-use-cases-2016-9?IR=T Iacobucci, D. (2014). MM4, 4th Edition. [Strayer University Bookshelf]. Retrieved from https://strayer.vitalsource.com/#/books/97813 05561946/ References Lingquig, Z. (2016) Top 5 smartwatches in customer satisfaction. Retrieved from: http://www.chinadaily.com.cn/bizchina/2016to p10/2016-08/24/content_26578084.htm Thanks for your time... XyloSe Smartwatch Unique Features : Health Checkup, Spycam, Software, High Internal Storage, Customization, Connectivity to satellite, apps and features as per specifications of the customers. Company's Target : To capture 7% market share in United States. Key Focus : Target Market, Customer Segment, 4 Ps & 5 Cs of marketing, SWOT Analysis Sylex, Inc. Founded by Peter and Roger Martin in 1996 Headquartered in Cupertino, California Manufacturing Facilities : San Diego No. of Employees: 3,600 Company Owned Retail Outlets: 48 Listed on NYSE as SYL Market Analysis Fast Growth of smartwatch market. Growth expected at 34.10% by year 2020. Less focus of manufacturers on emerging economies. High R&D on functionality and capability Sale of smartwatch to grow at 18% annually. Sale expected to reach 70 million units by year 2021. The customers desire increase in functionality and capability. 5 Cs of Marketing Customer Company Competition Collaborators Context STP System STP System Cont... Segmentation Targeting Positioning 4 Ps of Marketing Product Price Place Promotion SWOT Analysis Marketing Strategy Pre-Launch Activities Launching the Product Positioning Statement Marketing Science of Consumer Behavior Choosy Customers. High quality product at lower price will their purchasing habits. Durability, packaging, price and design of band are important attributes. Iacobucci, D. (2014) was of the view that a customer classification can be done in accordance to the care the customers give to their purchases Market Segmentation Attributes of : Age, group income, Segmentation occupation, marital status. Smartwatch for both male and female Target age group : 14 - 45 Years Groups of customers on: High group and middle the basis of Income income group. Branding Strategy Popularize by using : Internet, commercials, social networking websites, advertisement in newspapers, displays, decoration material, flyers, catalogs, trade show booths, trade promotions, etc. Brand Name : Simple and Easy to pronounce and remember. Use only logo in advertising so that people can recall name by seeing logo. Branding Strategy Cont... Branding Strategy Cont... Slogan \"Xylose: The essence of your lifestyle\" The slogan focuses that wearing XyloSe watch is an essential part of lifestyle. Brand Extension Range of glares. For both male and female. This product is also associated with lifestyle and ego needs Pricing Strategies Initially Penetration-pricing strategy Helpful in increasing customer base To introduce product at attractive price. Helpful in increasing market share. Premium Pricing The price will be higher than competitors. To sell new products at higher profit margin. To earn high margin. Distribution Strategy Indirect distribution strategy. Network of distributors and retailers. No direct selling other than its own outlets. Dispatch of watches 10 days before launch. Integrated Marketing Communication Integration of all the tools. Message on all channels of communication. Use of vertical integration of marketing efforts. 70% of advertising on TV and newspaper. 30% will be through online ads and online mails. Word of Mouth (WOM) to attract customers. Marketing Research Tools Surveys One-on-one Interviews Focus Groups Blogs and Social Networks References Beaver, L. (2016). THE SMARTWATCH REPORT: Forecasts, Adoption Trends, And Why The Market Isn't Living Up To The Hype. Retrieved from: http://www.businessinsider.com/smartwatchand-wearables-research-forecasts-trendsmarket-use-cases-2016-9?IR=T Iacobucci, D. (2014). MM4, 4th Edition. [Strayer University Bookshelf]. Retrieved from https://strayer.vitalsource.com/#/books/97813 05561946/ References Lingquig, Z. (2016) Top 5 smartwatches in customer satisfaction. Retrieved from: http://www.chinadaily.com.cn/bizchina/2016to p10/2016-08/24/content_26578084.htm Steele, D. (2015). Report: Smartwatch Market Expected to Explode in 2015. Retrieved from: http://www.androidheadlines.com/2015/02/large -willsmartwatch-market.html References Kotler, P. & Keller, K., (Feb 2011), Marketing Management, 14th Edition Hill, C., Jones, G., & Schilling, M. (2014). Strategic Management: Theory: An Integrated Approach. Cengage Learning. Thanks for your time... Running head: PART C: MARKETING PLAN OF SYLEX, INC. ` Part C: Marketing Plan for Sylex, Inc. MKT500: Marketing Management 1 PART C: MARKETING PLAN 2 Introduction A marketing plan is formulated by organizations in advance before launching the product. It works as a roadmap for placing and making the product successful in the market. It works as a blueprint to introduce the product and to make it successful in the market. It coordinates the marketing and advertising efforts of the organization that it has to undergo within a set timeframe. Luther (2012) suggested that the marketing plan is not only useful in providing the groundwork to take right decisions, but also facilitates in upholding competitive leader opportunities. The marketing plan also includes and covers branding, pricing and distribution strategy, social media plan, differentiation strategy, social media plan and integrated marketing plan. It is vital for organization to formulate a successful marketing plan that fully supports the product positioning in the marketplace. Hereunder are discussed some aspects of a successful marketing plan that are vital for Sylex, Inc. for completing a successful marketing plan. Branding, Pricing, and Distribution Strategy Sylex, Inc. aims at creating a unique image of the product in mind of the customers. Brand refers to the category of products that are manufactured by a particular company and carry a particular name (Merriam-Webster, 2017). Push is the mechanism used to attract customers; rather than the use of a pull strategy. The significance of pricing is also high in establishing the product in the market. It is the process that aids the organizations in setting the price to sell its products. Distribution strategy relates to the effectiveness and ability of the organization to make goods available to customers. Alexandra, Z. (2016) suggested that the marketing strategies of the companies should supersede the methods that are designed to increase awareness of Sylex's brand and facilitate a strong and favorable image in the memory of customers. PART C: MARKETING PLAN 3 Branding Strategy Sylex, Inc. uses and implements brand portfolio strategy for its upcoming XyloSe smartwatch. The company wants to develop an approach for the managing and establishing the brand in a coordinated manner. Sylex, Inc. desires to develop a long-term plan for achieving its goals and for making the XyloSe a long term success. A properly defined brand strategy has considerable influence on various business aspects. It has a direct relation to the needs and emotions of the consumers. Sylex, Inc. will undertake all the accessible means of communication to establish its brand. It will use all the resources available to maximize its customer base. The sources of advertising will be internet, commercials, newspaper, magazines, kiosks, displays, booths, etc. The logo of XyloSe smartwatch will be displayed on all highly trafficked, visible, and commented on social networking websites such as Facebook, Google, Yahoo, Twitter, and YouTube. Brand Name: The new smartwatch of Sylex, Inc. is named 'XyloSe' that is different from the available brands. It is a small name that is different from other brands and is easy to remember. The company will also register it as a trademark. The other strategy of the company is to display the logo without the names that will make the potential customers recognize the logo without the name. PART C: MARKETING PLAN 4 Slogan: \"Xylose: The essence of your lifestyle.\" The slogan of the new smartwatch of Sylex, Inc. depicts that owing the Xylose smartwatch will be an important part of the customer's lifestyle. It creates a relationship between customers and their lifestyle. The word slogan is a part of a phrase that is used to express a goal to be achieved. (Merriam-Webster, 2017). The slogan will display in the advertisements using print media and will be voiced in the commercials that will air on websites and television. Brand Extension: Sylex, Inc. proposes brand extension in the form of glares. Glares are commonly known as sunglasses and will also focus on lifestyle and fashion. They will be launched into the market with the same name as that of the smartwatch, i.e., XyloSe. Glares are the products that the company will market and sell using the brand name of the smartwatch. The range of glares will be available for both male and female customers. The company also plans to link glares as a gift with high-end models of the smartwatch. It will be an effective method to propagate both the products as they are lifestyle products and will provide the consumer with an additional option and added value. Pricing Strategy Sylex, Inc. proposes to use penetration-pricing strategy initially and after that conduct a comparison analysis study or feasibility report to determine the success of XyloSe smart watch. The company would have the option to change to premium pricing upon meeting and exceeding the return on investment goals. It is advisable because Sylex, Inc. is launching XyloSe smartwatch and is entering in smartwatch market for the first time. The target of the Sylex, Inc. is to establish its product in the market and to increase the number of satisfied customers. The PART C: MARKETING PLAN 5 big names and established companies use premium-pricing strategy to place their products in the market. In this strategy, the companies set the price that is higher than its competitors. Distribution Strategy Sylex, Inc. chooses to use indirect distribution strategy. The XyloSe smartwatch will not be sold directly to the customers by Sylex, Inc. For distributing its products, Sylex, Inc. has appointed distributors and retailers in all the major cities of United States. The company plans to dispatch the smartwatch to all of its distributors ten days before its introduction to market so that it could reach retailers in time and the customers can buy it in a hassle free manner on the day of its launch. Thus, primarily the distribution strategy is to sell the smartwatch indirectly as well as directly through the company-owned retail outlets. Competitor Analysis The major competitors of XyloSe smartwatch are Apple, Samsung, Sony, Pebble, Qualcomm, etc. Apple dominates the smartwatch market and holds around 35% of the total market share. Reisinger, D. (2016) suggested \"During the three-month period ended July, Apple Watch owned 33.5% of the U.S. smartwatch market, the research firm said on Tuesday. Across Europe's biggest four marketsGermany, France, Italy, and Great BritainApple's smartwatch market share stood at 31.8%\". The competitors as well as Sylex are inter-brand competitors and maintain the same pricing at different marketing and sales sites. Brand pricing is the same whether purchases are made at a retail store, sold by wholesaler, distributor, or online. This has been a business standard to maintain the customer's loyalty and avoid litigation for unfair pricing practices. PART C: MARKETING PLAN 6 Source: http://beta.evolita.com/explore/smart-watch-market-share-worldwide-in-2016-q3/55b62/ Market Share of Competitors in Smartwatch Space The above figure suggests that the largest competitor of Sylex, Inc. is Apple, Inc. followed by Garmin smartwatch with 21% of market share. Samsung is the second largest competitor with 14% market share. Sylex, Inc. knows that to curb the competitors it is necessary analyze them from various angles. Sylex, Inc. will exploit the untapped markets of the smartwatch to exploit their full potential and to place XyloSe at relatively lower prices in the market. The purchases of all the brands are made by different buyers who spend more and pay more prices for goods or who make frequent purchases. The main strengths of the competitors are high quality of the product they offer to attract a large number of customers (Iacobucci, D., 2013). They are established in the market and have a high reputation of their brand name. Owing to a high reputation, they charge a high price for their products. Palenchar, J. (2015) suggested the Apple watch that features 18-Karat Rose Gold or Yellow Gold casing are priced between $10,000 to $17,000. The weaknesses of the competitors include their presence that is limited to European and North American continent. They do not have a market in emerging economies of the world and believe that high-end goods, such as smart watches has limitations there. PART C: MARKETING PLAN 7 Differentiation Strategy Sylex, Inc. knows that upcoming XyloSe smartwatch should be different from other competitors. The strategy calls for unique attributes in the product that differentiate it from the products of competitors. The closest competitor of Sylex, Inc. in smartwatch space is Apple, Inc. that dominates the market and has the highest market share. To differentiate XyloSe smartwatch from Apple, Sylex, Inc. has a different feature of the gold casing. The watch will also come with a two-year replacement guarantee for all the manufacturing defects. The watch will also have several other features such as customization according to the requirements of customers, connectivity with satellite, German technology, etc. Thus, these features will differentiate the product from other players of industry and will facilitate in building a different brand image. Leader or Follower Intention The two key elements that Sylex, Inc. will be using to institute a strong foundation for the XyloSe smartwatch in the marketplace are satisfied customer and positive word of mouth. Both will facilitate the company to establish itself as a market leader in smartwatch segment of the industry. The Sylex, Inc. has objective to become a leader in the industry with its unique and innovative features that differentiate it from other products. It has the intention to increase the level of customer satisfaction and customer base. Thus, satisfied customers are the best way to establish trust, faith, and it will facilitate Sylex, Inc. to become a market leader in the industry upon the launch of the innovative smart watches. Social Media Plan Sylex, Inc. will use all the channels of social media to popularize XyloSe smartwatch. The two forms of social media that the Sylex, Inc. will use as social media plan are social blogs and social networks. Social blogs are informational websites or portals on the internet where PART C: MARKETING PLAN 8 people discuss the products or other concerned issues. Social networks are the websites or portals, which helps the users to share information with each other. It is an effective method of advertising and promoting the product. Some of the social networks that the company will use in promoting its smartwatch are Facebook, Twitter, LinkedIn, etc. The users give their opinion and comment on the performance of the product. These opinions and comments facilitate the organizations to alter their plan according to the needs of the customers. \"Enterprise social media allow users to communicate, manage and visualize relationships, to create and edit content, and make this data (semi-) publicly easily accessible over long periods of time\" (Wolf, M. V. et. al. 2015). Integrated Marketing Communications Sylex, Inc. will integrate all its marketing tools in a synchronized manner to have an effective integrated marketing communication in publicity of the XyloSe smartwatch. The marketing communication of XyloSe smartwatch will ensure that the message displays consistently across all the platforms of advertising to include news, print, radio, internet, and social media. The vertical integration of marketing efforts will effectively help the company to maintain corporate policy and will align its products with the mission of the company. Luxton, S. et, al. (2015) suggested \"There are several benefits associated with developing an IMC capability. It helps firms focus their resources (time, effort, and financial) against \"best\" customers and prospects via \"outside-in\" thinking, which starts with the customer rather than determining what is to be said and then looking for prospects to whom to say it.\" IMC will make an integration between advertising, promotion, marketing and communication and facilitates with a roadmap to have an interaction with public and target PART C: MARKETING PLAN 9 market. Percy (2014) opined that integrated marketing communication is helpful in increasing advertising strategy of the company in an efficient manner. The IMC for XyloSe will utilize TV ads, newspaper, and social media as means of communication into major sections of the identified target market. 70% of the advertising of Sylex, Inc. will on TV ads and newspaper. The company will use TV commercials in form of video demonstrating the features and specifications of the smartwatch. 30% of the integrated marketing plan will be through online ads and ads through mail. The online ads will be virtual and digital videos that will attract the segment that works more on the internet and lies to explore internet for gaining information. Word of mouth (WOM) will be the most effective tool to attract more customers to make purchases. Owing to high quality the reviews of users about the smartwatch and the reviews of existing customers of other model of watch will lead to a positive WOM. To increase positive WOM the Sylex, Inc. will use social networking portals, such as Facebook, Twitter, etc. The advertisement placed on social networking websites and blogs aids in analyzing the click rates of the internet users. The publicity and interest of people in XyloSe smartwatch will be ascertained by click rates on internet and websites. Conclusion The XyloSe smartwatch is all set to hit the market soon. The Sylex, Inc. has completed the groundwork to establish its brand successfully in the market and to the target customer segment. The pricing strategy of Sylex, Inc. is to keep the price below the price of customers. Penetration pricing strategy of the Sylex, Inc. will enable it to launch the XyloSe smartwatch successfully in the market. The company will adopt the premium-pricing strategy after analyzing the success of the campaign. The indirect method of distribution strategy adopted by the PART C: MARKETING PLAN 10 company will enable it to make the smartwatch reach to all the customers in the market. The sale of the smartwatch at company retail shops will also increase the visibility of the smartwatch in the marketplace. The prime competitor in smart watch space is Apple, and the pricing strategy of the company will enable it to have the edge over Apple's products. The XyloSe smartwatch is different and distinctive from the products of other competitors and it will enable the company's plan to become the leader in smartwatch segment. PART C: MARKETING PLAN 11 References Alexandra, Z. (2016). The impact of brand awareness on companies` marketing strategies. Risk in contemporary economy, vol 3, pp 213-219 (2016), 213. Retrieved from: https://doaj. org/ article/d6854cca45e249f6a67150f79d582b6f Iacobucci, D. (2013). MM. Mason, OH: South-Western. Luther, W. M. (2012). Marketing plan: How to prepare and implement it (4th ed.). New York, NY: Amacom. Luxton, S., Reid, M., & Mavondo, F. (2015). Integrated marketing communication capability and brand performance. Journal Of Advertising, 44(1), 37. DOI:10.1080/009 3367.2014.934938 Merriam-Webster. (2017). Definition of slogan. Retrieved, from https://www.merriam-webster. com/dictionary/slogan Merriam-Webster, (2017). Definition of brand. Retrieved from: https://www.merriam-webster. com/dictionary/brand Palenchar, J. (2015). Apple watch the one to watch. this week in consumer electronics, 30(6), 78. Percy, L. (2014). Strategic integrated marketing communications. (2nd ed. Hoboken, N.J.: Routledge. Reisinger, D. (2016) Apple watch is dominating the global smartwatch market. Retrieved from: http://fortune.com/2016/09/21/apple-watch-market-share/ Wolf, M. V. et. al. (2015) Understanding the use of social media for employer branding. DOI: 10.4018/978-1-4666-8353-2.ch004 XyloSe Smartwatch Unique Features : Health Checkup, Spycam, Software, High Internal Storage, Customization, Connectivity to satellite, apps and features as per specifications of the customers. Company's Target : To capture 7% market share in United States. Key Focus : Target Market, Customer Segment, 4 Ps & 5 Cs of marketing, SWOT Analysis Sylex, Inc. Founded by Peter and Roger Martin in 1996 Headquartered in Cupertino, California Manufacturing Facilities : San Diego No. of Employees: 3,600 Company Owned Retail Outlets: 48 Listed on NYSE as SYL Market Analysis Fast Growth of smartwatch market. Growth expected at 34.10% by year 2020. Less focus of manufacturers on emerging economies. High R&D on functionality and capability Sale of smartwatch to grow at 18% annually. Sale expected to reach 70 million units by year 2021. The customers desire increase in functionality and capability. 5 Cs of Marketing Customer Company Competition Collaborators Context STP System STP System Cont... Segmentation Targeting Positioning 4 Ps of Marketing Product Price Place Promotion SWOT Analysis Marketing Strategy Pre-Launch Activities Launching the Product Positioning Statement Marketing Science of Consumer Behavior Choosy Customers. High quality product at lower price will their purchasing habits. Durability, packaging, price and design of band are important attributes. Iacobucci, D. (2014) was of the view that a customer classification can be done in accordance to the care the customers give to their purchases Market Segmentation Attributes of : Age, group income, Segmentation occupation, marital status. Smartwatch for both male and female Target age group : 14 - 45 Years Groups of customers on: High group and middle the basis of Income income group. Branding Strategy Popularize by using : Internet, commercials, social networking websites, advertisement in newspapers, displays, decoration material, flyers, catalogs, trade show booths, trade promotions, etc. Brand Name : Simple and Easy to pronounce and remember. Use only logo in advertising so that people can recall name by seeing logo. Branding Strategy Cont... Branding Strategy Cont... Slogan \"Xylose: The essence of your lifestyle\" The slogan focuses that wearing XyloSe watch is an essential part of lifestyle. Brand Extension Range of glares. For both male and female. This product is also associated with lifestyle and ego needs Pricing Strategies Initially Penetration-pricing strategy Helpful in increasing customer base To introduce product at attractive price. Helpful in increasing market share. Premium Pricing The price will be higher than competitors. To sell new products at higher profit margin. To earn high margin. Distribution Strategy Indirect distribution strategy. Network of distributors and retailers. No direct selling other than its own outlets. Dispatch of watches 10 days before launch. Integrated Marketing Communication Integration of all the tools. Message on all channels of communication. Use of vertical integration of marketing efforts. 70% of advertising on TV and newspaper. 30% will be through online ads and online mails. Word of Mouth (WOM) to attract customers. Marketing Research Tools Surveys One-on-one Interviews Focus Groups Blogs and Social Networks References Beaver, L. (2016). THE SMARTWATCH REPORT: Forecasts, Adoption Trends, And Why The Market Isn't Living Up To The Hype. Retrieved from: http://www.businessinsider.com/smartwatchand-wearables-research-forecasts-trendsmarket-use-cases-2016-9?IR=T Iacobucci, D. (2014). MM4, 4th Edition. [Strayer University Bookshelf]. Retrieved from https://strayer.vitalsource.com/#/books/97813 05561946/ References Lingquig, Z. (2016) Top 5 smartwatches in customer satisfaction. Retrieved from: http://www.chinadaily.com.cn/bizchina/2016to p10/2016-08/24/content_26578084.htm Steele, D. (2015). Report: Smartwatch Market Expected to Explode in 2015. Retrieved from: http://www.androidheadlines.com/2015/02/large -willsmartwatch-market.html References Kotler, P. & Keller, K., (Feb 2011), Marketing Management, 14th Edition Hill, C., Jones, G., & Schilling, M. (2014). Strategic Management: Theory: An Integrated Approach. Cengage Learning. Thanks for your time... Marketing Plan XyloSe Smartwatch Executive Summary Name of Company : Sylex, Inc. Brand name : 'Xylose'. Unique Features : Innovative Design, Gold plated casing, Customization as per customer needs, etc. Company's Target : To capture 7% market share in United States. Key Focus : Target Market, Customer Segment, 4 Ps & 5 Cs of marketing, SWOT Analysis Introduction to Sylex, Inc. Founded in : 1996 Founded by : Peter Martin. Headquarters : Cupertino, California, U S Chief Executive Officer : Peter Martin Chairman : Roger Martin. Manufacturing Facilities : San Diego No. of Employees : 3,600 Company Outlets : 48 Stock listed on : New York Stock Exchange. Market Analysis Fast Growth of smartwatch market. Emerging economies are big opportunity. Present players paying less focus on emerging economies. Beaver, L. (2016) suggested that it is expected that in next few years the smartwatch market will see an increase in functionality and capabilities and it is expected that the sale of smartwatches will grow 18% annually and is expected to reach 70 million by the year 2021. 5 Cs of Marketing Customer Company Competition Collaborators Context STP System STP System Cont... Segmentation Process of fragmenting the market into small group. Selecting appropriate target market. Targeting Selecting the suitable market segment. Focusing on marketing offers of the firm. Focusing on related consumers. Positioning Making the consumers about the benefits and features. Comparing the product in relation to product of competitors. 4 Ps of Marketing Product Price Place Promotion SWOT Analysis Marketing Strategy Pre-Launch Activities Launching the Product Positioning Statement Marketing Science of Consumer Behavior Choosy Customers. High quality product at lower price will their purchasing habits. Durability, packaging, price and design of band are important attributes. Iacobucci, D. (2014) was of the view that a customer classification can be done in accordance to the care the customers give to their purchases Market Segmentation Attributes of : Age, group income, Segmentation occupation, marital status. Smartwatch for both male and female Target age group : 14 - 45 Years Groups of customers on: High group and middle the basis of Income income group. Branding Strategy Popularize by using : Internet, commercials, social networking websites, advertisement in newspapers, displays, decoration material, flyers, catalogs, trade show booths, trade promotions, etc. Brand Name : Simple and Easy to pronounce and remember. Use only logo in advertising so that people can recall name by seeing logo. Branding Strategy Cont... Branding Strategy Cont... Slogan \"Xylose: The essence of your lifestyle\" The slogan focuses that wearing XyloSe watch is an essential part of lifestyle. Brand Extension Range of glares. For both male and female. This product is also associated with lifestyle and ego needs Pricing Strategies Initially Penetration-pricing strategy Helpful in increasing customer base To introduce product at attractive price. Helpful in increasing market share. Premium Pricing The price will be higher than competitors. To sell new products at higher profit margin. To earn high margin. Distribution Strategy Indirect distribution strategy. Network of distributors and retailers. No direct selling other than its own outlets. Dispatch of watches 10 days before launch. Integrated Marketing Communication Integration of all the tools. Message on all channels of communication. Use of vertical integration of marketing efforts. 70% of advertising on TV and newspaper. 30% will be through online ads and online mails. Word of Mouth (WOM) to attract customers. Marketing Research Tools Surveys One-on-one Interviews Focus Groups Blogs and Social Networks References Beaver, L. (2016). THE SMARTWATCH REPORT: Forecasts, Adoption Trends, And Why The Market Isn't Living Up To The Hype. Retrieved from: http://www.businessinsider.com/smartwatchand-wearables-research-forecasts-trendsmarket-use-cases-2016-9?IR=T Iacobucci, D. (2014). MM4, 4th Edition. [Strayer Un